Dana puts Islamic finance to the test

Dana puts Islamic finance to the test

Dana Gas, an Emirati gas company, is using Shariah non-compliance as an argument in its sukuk restructuring talks. That remarkable move, if successful, could undermine the whole system of trust built around Islamic finance in the Middle East.

Euromoney Middle East Awards for Excellence 2017 winners revealed

Euromoney Middle East Awards for Excellence 2017 winners revealed

Commercial International Bank wins region’s best bank award; winners reflect year of reform and easing bank liquidity; record year for Gulf debt capital markets sees HSBC retaining investment-banking title, while local and international banks do battle for regional and domestic awards.

Africa: Afreximbank pushes at history’s wheel

Africa: Afreximbank pushes at history’s wheel

As international banks continue to pull out of Africa, Afreximbank president, Benedict Oramah explains why African institutions need to be the main source of support for the continent in times of crisis.

Africa: Ghana’s power failure

Africa: Ghana’s power failure

The country’s last administration borrowed heavily from banks to sustain inefficient state-owned energy companies at the expense of the private sector – can the newly elected government repay the debt and get banks lending again?

Middle East: Can the crowd fund Gulf SMEs?

Middle East: Can the crowd fund Gulf SMEs?

Beehive and Eureeca are using online crowdfunding to raise debt and equity for small businesses in the Middle East. Becoming regulated will allow them to grow rapidly. In time, they could eat the banks’ lunch, or the banks just might swallow them.

Middle East: Saudi banks breathe as liquidity fears ease

Middle East: Saudi banks breathe as liquidity fears ease

The liquidity issues that have plagued the Kingdom’s banks for months appear to have abated. But a persistently low oil price and the impending generational reform programme mean that Saudi Arabia’s financial sector still faces some big challenges.

Iran sanctions: special focus

Iran sanctions: special focus

Euromoney investigates how the relaxation of western sanctions on Iran – dubbed the world’s most lucrative closed economy – will jump-start trade and capital flows from Europe to the Gulf, and plots a vision for the country's banking system and economic transformation, more generally.

New Kuwait highlights the same old problems

New Kuwait highlights the same old problems

The emir of Kuwait has revealed a grand plan to transform the country into a regional financial centre by 2035. The country’s bankers and businessmen say they’ve heard it all before. Can Kuwait finally deliver on its promises?